Tribe Capital reveals its interest to invest in Shiprocket with $75 million Fund

By Team Startupcity  |  Tuesday, 30 April 2024, 17:22 IST

Tribe Capital reveals its interest to invest in Shiprocket with $75 million Fund
Bengaluru-based Tribe Capital is boosting up its fund infusion in the logistics startup Shiprocket. Shiprocket secured total funding of over $399.40 Million through its recently launched SPV – special purpose vehicle in India. 
Arjun Sethi, the Co-Founder of Tribe Capital stated that the special purpose vehicle will not only infuse funds in ventures but also foster the connectivity to build & acquire them in India. Such instances marks a retreat to traditional approach of international venture capital companies functioning in India. 
The fund vehicle intents to put $75 million in Shiprocket, where the Tribe Capital holds the greatest interest to invest. Established in Gurugram, SPV is co-founded by Arjun Sethi, Vishesh Khurana, the co-founder of Tribe Capital & a key investor in Indian business, Raj Snehil Juneja.
Tribe Capital India Management, an accredited Indian asset management business is projected to donate the massive share of capital to the current investment round of Shiprocket. This significant endeavour of investment is projected to cover primary as well as secondary deals that potentially estimating the business at $1.2 billion. 
Founded in 2017 by Vishesh Khurana, Saahil Goel, Akshay Gulati & Gautam Kapoor, Shiprocket is a digital marketplace for external logistics & shipping providers. It partners with 17 courier companies in India such as FedEx, Delhivery, XpressBees, Aramex, Shadowfax & DTDC. 
The company has elevated more than $270 million funding from the key investors such as Moore Strategic Ventures, Temasek, Bertelsmann, March Capital & PayPal. 

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